Why Glu Mobile Stock Just Jumped 33%

Shares of Glu Mobile (NASDAQ: GLUU) roared out of the gate Tuesday, rising 33.7% as of 10:25 a.m. EST after the maker of mobile games announced its fourth-quarter 2020 earnings results last night.

Glu grew its quarterly revenue 25% year over year and its full-year sales 31%. Earnings were $0.13 for the quarter, erasing losses earlier in the year to close out 2020 with a $0.12 profit -- all of which was great news, but probably not the real reason Glu stock is soaring today.  

Instead, investors are excited because Glu Mobile is getting bought out.

Continue reading

Source Fool.com